Subscribe

Join Us On LinkedIn

Former Theranos executive Ramesh “Sunny” Balwani’s attorney told a California federal jury during closing arguments in his criminal fraud trial Wednesday that Balwani’s romantic relationship with ex-CEO Elizabeth Holmes doesn’t prove he committed a crime, noting their text messages never say, “Let’s do crime, let’s cheat people, let’s deceive people.” Source: Balwani’s Atty Tells Jury […]
In a lengthy closing argument, federal prosecutors reiterated their case that Balwani was an active participant, alongside Holmes, in a scheme to defraud investors and patients of the doomed medical technology startup. “Mr. Balwani is not a victim, he is the perpetrator of the fraud,” prosecutor Jeffrey Schenk told jurors during the proceedings. Source: Sunny […]
Since Balwani’s trial began, legal experts and curious onlookers alike have wondered whether Holmes might testify against Balwani in exchange for some leniency in her sentencing, although it’s not known whether she was offered that opportunity. They got their answer today, when the prosecution confirmed in an evidentiary hearing that Holmes would not in fact […]
In a 24-page filing, lawyers for the Theranos founder targeted her conviction of wire fraud, arguing the evidence provided did not amount to a guilty verdict. “Because no rational juror could have found the elements of wire fraud and conspiracy to commit wire fraud beyond a reasonable doubt on this record, the Court should grant […]
For some, the damning evidence—and what Ms. Stefanek called the first smoking gun—was a report Theranos gave investors that Ms. Holmes altered to make it look like it was an endorsement from Pfizer Inc. For Ms. Stefanek, the second was a document of financial projections given to prospective investors, the juror said, including prosecution witness […]
The trial, which lasted for 14 weeks, called into question more than just Holmes’ questionable business practices and investment solicitation; it was arguably a referendum on “fake it till you make it” practices, such as intentionally overstating, and thereby misrepresenting, a fledgling company’s current capabilities, success, or profitability, while banking on the notion that its […]
Elizabeth Holmes, the founder of the failed blood testing start-up Theranos, was found guilty of four of 11 charges of fraud on Monday, in a case that came to symbolize the pitfalls of Silicon Valley’s culture of hustle, hype and greed. Source: Theranos Founder Elizabeth Holmes Found Guilty of Four Counts of Fraud – The […]
The Feds made their final push to put Elizabeth Holmes behind bars on Thursday, telling jurors that the “criminal” founder of Theranos was guilty of perpetrating a massive fraud. “She chose fraud over business failure,” federal prosecutor Jeff Schenk told the jury. “She chose to be dishonest. This choice was not only callous; it was criminal.” […]
Elizabeth Holmes took jurors into the Theranos Inc. lab Monday during testimony at her criminal-fraud trial, describing ways the startup sought to reduce errors in lab testing and miniaturize traditionally bulky blood-testing machines. “We thought this was a really big idea,” Ms. Holmes said of Theranos’s attempts to remove human error from steps involved in […]
Theranos Inc. founder Elizabeth Holmes heads to court Tuesday, as her legal team seeks to help assemble a group of impartial jurors to weigh the criminal-fraud charges filed against her, a task her lawyers say is challenging, given her case’s notoriety. Ms. Holmes’s legal team and prosecutors with the U.S. attorney’s office for the Northern […]